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Hcltech To Acquire German Automotive Engineering Services Company Asap Group

Jul 13, 2023•over 2 years ago

Acquiring Company

HCL Technologies

Acquired Company

ASAP Group

Noidainformation technology & services

Description

HCLTech, a leading global technology company, today announced it has signed a definitive agreement to acquire 100% equity stake in ASAP Group, an automotive engineering services provider. The transaction is subject to relevant regulatory approvals and is expected to close in September 2023.

Company Information

Company

HCL Technologies

Location

Noida, Uttar Pradesh, India

About

HCLTech is a global technology company, home to more than 221,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending September 2023 totaled $12.9 billion. To learn how we can supercharge progress for you, visit hcltech.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed